Public Employees Retirement Association of Colorado Takes Position in CBRE Group Inc (CBRE)

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Public Employees Retirement Association of Colorado bought a new position in CBRE Group Inc (NYSE:CBRE) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 59,855 shares of the financial services provider’s stock, valued at approximately $2,640,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CBRE. Commonwealth Equity Services LLC acquired a new stake in CBRE Group in the first quarter worth $273,000. LPL Financial LLC acquired a new stake in CBRE Group in the first quarter worth $1,641,000. Allianz Asset Management GmbH acquired a new stake in CBRE Group in the first quarter worth $10,230,000. Suntrust Banks Inc. acquired a new stake in CBRE Group in the first quarter worth $1,458,000. Finally, Brown Advisory Inc. acquired a new stake in CBRE Group in the first quarter worth $1,236,000. Institutional investors own 94.47% of the company’s stock.

Several research firms have weighed in on CBRE. Zacks Investment Research upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Monday, August 6th. Barclays raised their price objective on shares of CBRE Group from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, August 30th. Finally, ValuEngine lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $52.19.

In related news, CEO William F. Concannon sold 28,878 shares of the firm’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $47.47, for a total transaction of $1,370,838.66. Following the sale, the chief executive officer now directly owns 204,631 shares in the company, valued at $9,713,833.57. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.88% of the company’s stock.

Shares of NYSE:CBRE opened at $39.36 on Tuesday. CBRE Group Inc has a 12 month low of $38.05 and a 12 month high of $50.43. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.39. The firm has a market cap of $13.17 billion, a P/E ratio of 14.52, a P/E/G ratio of 0.94 and a beta of 1.78.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Thursday, August 2nd. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. CBRE Group had a net margin of 4.21% and a return on equity of 23.53%. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $4.72 billion. The firm’s revenue was up 15.1% on a year-over-year basis. Research analysts predict that CBRE Group Inc will post 3.16 earnings per share for the current fiscal year.

CBRE Group Profile

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.

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Institutional Ownership by Quarter for CBRE Group (NYSE:CBRE)

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